MTN Pays N80 Billion of N330 Billion Fine to Federal Government

Telecoms giant MTN has paid the Federal Government N80 billion of the N330 billion fine imposed on the network for failing to deactivate over five million unregistered SIM card.

The network was initially fined $5.2 billion (N1.04 trillion) for failing to deactivate more than five million unregistered SIM cards but was later reduced to N330 billion.

The Minister of Communications, Adebayo Shittu, said that the network company paid the sum for the first year. He said:

For the first year, they paid N80 billion, after paying the initial N50 billion, and they will have to pay for three years until they complete the N330 billion.

MTN does not have a choice, when the law was made, it said for every unregistered SIM card in use, the fine is N200,000, the law never anticipated that one company will be in violation to the tune of millions of lines.

It was inconceivable, so when the thing was added 200,000 times 5.2million lines, it came to a trillion plus.

When it happened, the MTN did four things; one they accepted that they were in default, two, they apologised for that and three they committed themselves never to allow such a thing to happen and number four, they asked for remission.

Government had to look at a number of factors because if they have to pay this amount; they will pack up.

He further explained the implications of having the network company pack up. This will “shake the confidence of international investors in Nigerian economy, we must avoid it” and render about 5,000 workers jobless.

Do people have issues with what the minister said or how he said it, because what he said is true!! Should Nigerian Govt have insisted on the full penalty amount and allowed MTN to pack up, to the detriment of Nigerian people working there??? Sometimes you don’t need to break law but you can bend it if the dictate of time calls for it.

N80 billion payment, and ‘they don’t want the company to pack up’!!! Really.??
The whole thing feels like witchcraft. Ahann
I can’t think of 1 single Nigerian Company that would pay 1billion for any fine, even if the board members were caught with human heads. Never would they pay.
Everyday we read of policemen, and senators and military people who have been arrested for stealing billions and trillions, and after the initial sensation, the story just Melts away like mist…..
Yes MTN, did wrong, but I think they’ve tried and the matter should end here. This bleeding them dry would only come back to haunt us in the future, when the shoe is on the other foot. The govt. should let it go already.

Well done my people, up mtn, My Tribute to MTN, even if u people sold-out the Mtn company and give the whole money to FG it wouldn’t sort their problems bcos they already in mess, only God almighty will help us .thanks.